Gopher approaches Playtech amid Aristocrat's (ASX:ALL) offer

Company News

by Lauren Evans

Gambling giant Aristocrat Leisure (ASX:ALL) noted that its takeover target Playtech has been approached by Gopher Investments to access due diligence information.

Aristocrat said there is no certainty that Gopher’s approach will result in an offer for UK gambling software Playtech. In mid-October Aristocrat offered 680 pence per share to Playtech, valuing its share capital to $3.9 billion (£2.1 billion).

The acquisition follows extensive engagement between Aristocrat and Playtech since April this year.

Since October, the two companies have been working to implement the recommended acquisition, while Aristocrat “urges” Playtech shareholders to vote in favour of the deal.

In accordance with the UK takeover code, the UK takeover panel will announce the deadline by which Gopher must clarify its intentions in relation to Playtech.

Shares in Aristocrat (ASX:ALL) are trading 2.4 per cent lower at $47.12.

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